ABN under pressure on U.S. Justice issue before sale: WSJ

AbbyDeveney

LONDON (MarketWatch) -- A probe by the U.S. Justice Department into past money transfers at ABN Amro Holdings NV
ABN, +3.23%
looms as a hurdle to signing a deal to sell the Dutch bank to Barclays PLC
BCS, +0.53%BARC, +0.78%
the Wall Street Journal reported on its Web site, quoting people familiar with the situation. ABN is working on reaching a settlement with the Justice Department, but is facing time pressure: Barclays wants greater reassurance that the matter can be resolved before signing a deal to buy ABN for an estimated $80 billion within the next two weeks, people familiar with the situation said. Barclays doesn't want to inherit the risk of a criminal probe, the Journal quoted these people as saying.

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